Regency Centers Corporation (REG) Expected to Post Earnings of $0.91 Per Share
Wall Street brokerages forecast that Regency Centers Corporation (NYSE:REG) will post earnings per share of $0.91 for the current quarter, according to Zacks. Six analysts have made estimates for Regency Centers Corporation’s earnings. The highest EPS estimate is $0.93 and the lowest is $0.89. Regency Centers Corporation posted earnings per share of $0.05 in the same quarter last year, which suggests a positive year-over-year growth rate of 1,720%. The company is scheduled to announce its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Regency Centers Corporation will report full-year earnings of $3.66 per share for the current fiscal year, with EPS estimates ranging from $3.63 to $3.69. For the next financial year, analysts expect that the firm will report earnings of $3.83 per share, with EPS estimates ranging from $3.79 to $3.86. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Regency Centers Corporation.
Regency Centers Corporation (NYSE:REG) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.03. The company had revenue of $240.42 million during the quarter, compared to analyst estimates of $248.50 million. Regency Centers Corporation had a net margin of 13.19% and a return on equity of 2.20%. During the same period last year, the business earned $0.81 EPS.
Several equities analysts recently commented on the stock. Boenning Scattergood reiterated a “hold” rating on shares of Regency Centers Corporation in a research note on Monday, August 7th. TheStreet upgraded shares of Regency Centers Corporation from a “c” rating to a “b-” rating in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Regency Centers Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada upgraded shares of Regency Centers Corporation from an “outperform” rating to a “top pick” rating and upped their target price for the company from $72.00 to $75.00 in a research note on Thursday, August 17th. Finally, Robert W. Baird reissued a “buy” rating and issued a $72.00 price target on shares of Regency Centers Corporation in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $72.13.
Shares of Regency Centers Corporation (REG) traded up 2.78% on Thursday, reaching $65.41. 830,526 shares of the company’s stock traded hands. The firm has a market capitalization of $11.10 billion, a P/E ratio of 108.65 and a beta of 0.56. The company’s 50-day moving average is $65.38 and its 200-day moving average is $64.35. Regency Centers Corporation has a 52 week low of $58.63 and a 52 week high of $79.96.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 16th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Monday, August 14th. Regency Centers Corporation’s payout ratio is 353.34%.
In other Regency Centers Corporation news, Director Mary Lou Fiala sold 7,775 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $65.74, for a total transaction of $511,128.50. Following the sale, the director now owns 17,145 shares of the company’s stock, valued at approximately $1,127,112.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Chaim Katzman sold 1,055,758 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $64.30, for a total transaction of $67,885,239.40. The disclosure for this sale can be found here. 12.66% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. IHT Wealth Management LLC bought a new stake in Regency Centers Corporation during the 2nd quarter worth about $124,000. Perigon Wealth Management LLC grew its holdings in Regency Centers Corporation by 93.2% during the 2nd quarter. Perigon Wealth Management LLC now owns 2,125 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 1,025 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Regency Centers Corporation during the 1st quarter worth about $176,000. Global X Management Co. LLC bought a new stake in Regency Centers Corporation during the 2nd quarter worth about $179,000. Finally, Advisor Group Inc. grew its holdings in Regency Centers Corporation by 15.6% during the 2nd quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock worth $188,000 after acquiring an additional 404 shares during the last quarter. 91.52% of the stock is currently owned by hedge funds and other institutional investors.
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About Regency Centers Corporation
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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